Shares of this leading tyre company zoom over 18 per cent in the last 5 days!

As the season of financial results is on, all eyes are on this company.

As companies are declaring their financial results, the tyre industry has shown good performance. MRF Ltd and CEAT Ltd have shown good growth in sales and net profit. Now all eyes are on JK Tyre & Industries Ltd as the share price is gaining good traction in the last few sessions.  

On a consolidated basis, the company has reported a rise of 29.37 per cent in its net profit on consolidated basis at Rs 69.51 crore for Q3FY23 as compared to Rs 53.73 crore for the same quarter in the previous year. PBIDT (Excl OI) of the company increased by 24.08 per cent at Rs 339.34 crore for Q3FY23 as compared to Rs 273.48 crore for Q3FY22. 

The company has reported a rise of 17.45 per cent in its net sales at Rs 3,612.92 crore for Q3FY23 compared to Rs 3,076.03 crore for the same quarter in the previous year. On a sequential basis, the net sales of the company decreased by 3.82 per cent. 

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On May 5, the scrip opened at Rs 195.50 and touched a high and low of Rs 208.45 and 195.50, respectively. It closed at Rs 205.20, up by 5.28 per cent and 5,65,896 shares were traded over the counter at BSE. It has a 52-week high and low of Rs 213.50 and Rs 96.40, respectively and a face value of Rs 2. 

JK Tyre & Industries Ltd is engaged in the manufacture and marketing of automotive tyres, tubes and flaps. The company’s tyre products comprise commercial and passenger vehicles as well as speciality tyres for Racing, Military/Defence, Industrial and Farm applications.